all about Madonna

The price of Madonna’s Beverly Hills, Calif., estate has been cut for a second time, to $9.75 million from an original $10.9 million, set slightly more than a year ago. The markdown brings the singer’s 1926 Spanish-style home more comfortably below the $10 million threshold that Realtors say has proven to be a sticking point for Beverly Hills buyers in recent months, amid an otherwise strong local real-estate market.
At 7,000 square feet, and with a pedigree from Wallace Neff (the master architect of Hollywood art deco), agents say the singer’s house shouldn’t be a hard sell, but they say there’s been a buildup of inventory in the $10-million-plus range.
Madonna bought the house from actress Diane Keaton in 2000 for about $6.5 million, then renovated it for an additional $2 million. Madonna, who spends much of her time in her other homes in New York and Britain, put the house up for sale not long after the renovations were completed.
Meanwhile, the house next door, owned by Woody Stuart, a scion of the family that founded the Carnation food company, is in contract. His 1920s Spanish-style home, on a slightly larger lot than Madonna’s, was listed this spring at $14 million, then reduced to $10.5 million. After three months, it sold slightly below that level, local brokers say. Stuart, who declined to comment through a spokeswoman, paid about $4.75 million for the property in 1999.
source : naplesnews.com

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